Budgeting & forecasting
With credit harder than ever to obtain, many banks are requesting future forecasts and budgets to assist with finance applications. Good budgeting and forecasting is essential to the growth of any business and eliminates some of the unforeseen issues businesses face day to day. McCabe Ford Williams is here for you with a team of experienced staff who will be happy to help produce this information. This can be in the form of a one off statement in order to apply for finance or with ongoing reporting and guidance.
Whether you are a new organisation or one which has been established for many years, it is important to identify options for business development, considering how and when you want your business to develop. You will need to consider issues such as how much credit to extend to your customers, when you will pay your suppliers, whether your business is seasonal, when new products will be developed and introduced; and how you are going to fund the business. Accurate budgeting and forecasting will help you to achieve this.
As you move forward, it is also useful to compare your actual results against your predictions, allowing you to identify where performance was better or worse than expected and then, if appropriate, you make take the necessary information you need to take steps to modify your operations.
We can assist you to prepare business budgets and forecasts, linking cash flow forecasts with projected profit and loss accounts and balance sheets. We will help you review the assumptions you use in preparing any projections and assess whether they are realistic. Using your monthly management accounts, we can work with you to identify variances in performance and suggest how and why these variances have arisen.